Aeffe Group Q1 profit increased by 26,7%
Aeffe Group (Moschino, Alberta Ferretti) reports Q1 net profit at double-digit increase of + 26.7. Aeffe turnover reached 76.1 million, up 7% over the same period 2015.
Consolidated EBITDA was nearly 14 million, compared to the previous 12.5 million. The improvement in profitability was mainly due to the advanced sales in the ready-to-wear division (+ 7.4%).
The Italian market remains a priority for the group, with 43.4% of turnover, more than 33 million euro (+ 3.5%). Europe, excluding Italy and Russia, recorded in the order of 23.4% and an increase of 8.3% (+ 8.6% at constant exchange rates).
In the US, Aeffe reported an increase of 8.8% in sales. Around 21% the percentage came from the rest of the world, which totals revenues exceeding 16 million (+ 7.3% at constant exchange rates), thanks mainly to the excellent performance of Aeffe house brands in Greater China.
Among the brands, Alberta Ferretti performed well (+ 6.5% or + 6.6% at constant exchange rates), Philosophy (+ 29.5% or + 29.2% at constant exchange rates) and Moschino (+ 8%), which “weighs” 65.1% on the turnover of the group. Pollini sales was down -3.7% .
By analyzing the distribution, wholesale recorded a rise of 15.1% (+ 14.9% at constant exchange rates).